Used car prices dropped again in April, but at a slower pace than March.
Karl Brauer, executive analyst with iSeeCars, talks about the local market for used cars and how prices are trending.Karl Brauer, of iseecars.com, said a shortage of new cars and overall inflation has driven prices to record highs in recent months, but automakers are starting to see improvements in parts, supplies and production.
New analysis showed that used car prices are up more than 30% in Chicago, above the national average."Nationally they're up about 30%, just over 30%. But in Chicago, they're up 32.3%. That translates to about $8,400 compared to a year ago. So your average used car is about $8,400 more expensive than it was 12 months ago in Chicago," Brauer said.
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